31.0505 Public accounting practice.

Cite as [A.S.A.C. § 31.0505]

(a) The term, “public accounting practice”, also referred to as “public practice”, as used in Chapter 31.02 ASCA and in this chapter means the performing for a client, or a fee basis, one or more types of services rendered by public accountants and the holding out to the public to be a certified public accountant, licensed under 31.0210 A.S.C.A., or a public accountant, licensed under 31.0217 A.S.C.A., as:

(1) A sole practitioner; or

(2) A partner in a partnership of certified public accountant or public accountants or a combination of both; or

(3) A principal in a professional accounting corporation.

(b) the term shall also include a certified public accountant or public accountant employed as a staff employee of the sole practitioner, partnership or professional accounting corporation described in subsection (a).

History: Rule 3-88, eff 18 Apr 88.